Life insurance was the largest segment in the Indian insurance industry in 2013, and accounted for 78.5% of the industry’s gross written premium. The segment registered significant growth at a review-period (2009–2013) CAGR of 3.3%. Growth was primarily attributed to the rapid expansion of group superannuation products, which registered a review-period CAGR of 21.7% in terms of gross written premium. Steady expansion in the individual whole life category, which accounted for 77.8% of the life insurance gross written premium, also contributed to the segment’s growth.

Sustainable economic growth and rising GDP, increasing levels of employment, an expanding population, rising life expectancy, increased tax benefits and the introduction of flexible life insurance plans are expected to support the segment’s growth over the forecast period. Gross written premium is projected to increase at a projected forecast-period CAGR of 6.3%.

Scope:

This report provides a comprehensive analysis of the life insurance segment in India:

It provides historical values for the Indian life insurance segment for the report’s 2009–2013 review period, and projected figures for the 2013–2018 forecast period.

It offers a detailed analysis of the key categories in the Indian life insurance segment, along with market forecasts until 2018.

It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions.

It analyses the various distribution channels for life insurance products in India.

Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in India for life insurance business.

It provides a detailed analysis of the reinsurance segment in India and its growth prospects.

It profiles the top life insurance companies in India and outlines the key regulations affecting them.

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